Business Combinations (Tables)

12 Months Ended

Dec. 31, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Business Combination, Recognized Asset Acquired and Liability Assumed

The following table provides certain preliminary financial information for these acquisitions:


	Year Ended December 31,
(in millions)	2025		2024
Assets acquired:
Cash and cash equivalents	$	90	$	28
Accounts receivable	137		68
Other assets	85		60
Goodwill	1,279		532
Other identifiable intangibles	777		313
Liabilities assumed:
Other liabilities	(130)		(114)
Deferred income taxes, long-term	(128)		(40)
Net assets acquired (1)(2)	$	2,110	$	847
Fair value of noncontrolling interests(3)	126		—
Fair value of controlling interests acquired	$	1,984	$	847

(1) Net assets acquired include contingent consideration and deferred purchase price of $66 million and $84 million for the years ended December 31, 2025 and 2024, respectively, and $141 million related to NCI and the net assets of the step acquisition disclosed in (3) below for the year ended December 31, 2025.

(2) During the year ended December 31, 2025, the Company acquired an entity in which it previously held a convertible note instrument of approximately $43 million, and the net assets acquired are included here. As part of the transaction, the Company recorded a gain of approximately $56 million, which is recorded within other income, net, on the accompanying consolidated statements of income.

(3) Includes $8 million for the year ended December 31, 2025, related to a step acquisition through which the Company gained a controlling interest in, and therefore consolidated, an entity in which it previously held an investment in an unconsolidated affiliate. The remaining balance relates to another acquisition with NCI.

Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The following table provides a summary of the preliminary estimated fair value of certain intangible assets acquired:


					Year Ended December 31,
(in millions)	Amortization Period				2025		2024
Other identifiable intangibles:
Client relationships	9	-	17	years	$	596	$	257
Software and related assets	2	-	9	years	121		10
Backlog	1	-	4	years	45		28
Trade names	3	-	5	years	7		6
Databases			2	years	6		5
Non-compete agreements	2	-	5	years	2		7
Total Other identifiable intangibles					$	777	$	313